Form 990 for tax year 2023
Filed by UNIVERSITY ENTERPRISE LABORATORIES INC.
Totals
- Total revenue
- $4,130,870
- Total expenses
- $4,111,798
- Contributions and grants received
- $70,001
- Grants paid
- $0
- Program service revenue
- $4,053,004
- Investment income
- $798
- Other revenue
- $7,067
- Total assets, end of year
- $20,324,135
- Total liabilities, end of year
- $15,989,623
- Net assets or fund balances, end of year
- $4,334,512
- Program services expenses (Part IX)
- $3,895,326
- Management and general expenses
- $216,472
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,895,326
Program services were 94.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$66,668
-
1f · All other contributions, gifts and grants
$3,333
-
2a · Program service revenue: RENTAL INCOME
total $4,043,358 · related or exempt $3,994,758 · unrelated business $48,600
-
2b · Program service revenue: MAILBOX RENTALS
total $6,600 · related or exempt $6,600
-
2c · Program service revenue: FORFEITED DEPOSITS
total $3,046 · related or exempt $3,046
-
3 · Investment income
total $798 · excluded $798
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $7,067 · excluded $7,067
-
11e · Other revenue, total
$7,067
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $64,479 · program services $48,359 · management and general $16,120
-
10 · Payroll taxes
total $4,933 · program services $3,700 · management and general $1,233
-
11a · Fees: management
total $151,542 · management and general $151,542
-
11b · Fees: legal
total $4,619 · program services $1,396 · management and general $3,223
-
11c · Fees: accounting
total $65,994 · program services $30,000 · management and general $35,994
-
11f · Fees: investment management
total $622 · management and general $622
-
11g · Fees: other
total $286,283 · program services $286,283
-
12 · Advertising and promotion
total $49,010 · program services $49,010
-
13 · Office expenses
total $44,111 · program services $44,111
-
14 · Information technology
total $12,571 · program services $12,571
-
16 · Occupancy
total $1,062,106 · program services $1,062,106
-
20 · Interest
total $795,412 · program services $795,412
-
22 · Depreciation, depletion and amortization
total $870,807 · program services $870,807
-
23 · Insurance
total $66,604 · program services $58,866 · management and general $7,738
-
24a · Other expenses: REPAIRS & MAINTENANCE
total $526,557 · program services $526,557
-
24b · Other expenses: DUES & SUBSCRIPTIONS
total $97,735 · program services $97,735
-
24c · Other expenses: EQUIPMENT RENTAL
total $8,413 · program services $8,413
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $470,401 · end of year $587,733
-
2 · Savings and temporary cash investments
beginning of year $554,659 · end of year $746,315
-
4 · Accounts receivable
beginning of year $91,964 · end of year $62,725
-
7 · Other notes and loans receivable
beginning of year $10,619 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $164,717 · end of year $126,797
-
10a · Land, buildings and equipment: cost or other basis
$32,069,319
-
10b · Land, buildings and equipment: accumulated depreciation
$13,721,301
-
10c · Land, buildings and equipment, net
beginning of year $17,967,886 · end of year $18,348,018
-
15 · Other assets
beginning of year $406,197 · end of year $452,547
-
17 · Accounts payable and accrued expenses
beginning of year $124,800 · end of year $139,015
-
19 · Deferred revenue
beginning of year $113,714 · end of year $33,602
-
23 · Secured mortgages and notes payable
beginning of year $14,969,680 · end of year $14,685,040
-
25 · Other liabilities
beginning of year $142,809 · end of year $1,131,966
-
27 · Net assets without donor restrictions
beginning of year $4,315,440 · end of year $4,334,512
Mission and programs · 2023
Mission
THE MISSION OF THE UNIVERSITY ENTERPRISE LABORATORIES IS TO SUPPORT EARLY-STAGE VENTURES IN LIFE SCIENCES TO GROWTH AND COMMERCIAL SUCCESS THROUGH CONNECTIONS, SERVICES, AND WORLD-CLASS LABORATORY FACILITIES IN MINNESOTA'S ENTREPRENEURSHIP ECOSYSTEM.
Activities or mission (Part I)
SEE SCHEDULE O.UNIVERSITY ENTRPRISE LABORATORIES (UEL) IS ORGANIZED FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. IT SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS. IT ALSO SUPPORTS STUDENT WORK EXPERIENCE THROUGH INTERNSHIP OPPORTUNITIES, AND TECHNOLOGY TRANSFER WITH THE UNIVERSITY OF MINNESOTA. IT IS ORGANIZED AND WILL CONTINUE TOBE OPERATED TO PROMOTE, ENCOURAGE, AND AID SCIENTIFIC INVESTIGATION, RESEARCH, TECHNOLOGICAL ADVANCEMENT, EDUCATIONAL OPPORTUNITIES, AND ENTREPRENEURSHIP; PROMOTE, ENCOURAGE AND AID IN THE MUTUAL TRANSFER AND APPLICATION OF SCIENTIFIC INVESTIGATION AND RESEARCH, TECHNOLOGICALADVANCEMENT, AND EDUCATIONAL OPPORTUNITIES IN COLLABORATION WITH EDUCATIONAL AND RESEARCH INSTITUTIONS, INDUSTRY, BUSINESS, AND GOVERNMENT.
-
SERVES AS A LABORATORY-BASED INCUBATOR FOR EMERGING LIFE SCIENCE COMPANIES BY PROVIDING ACCESS TO WORLD-CLASS LABORATORY FACILITIES, SHARED EQUIPMENT, BUSINESS AND ENTREPRENEURSHIP TRAINING, A COMMUNITY OF STARTUPS, AND COLLABORATION WITH UNIVERSITY-BASED RESEARCHERS.
Expenses $3,895,326 · Revenue $4,004,404
As filed on the 2023 return.
Listed in Part VII
-
Mike BerthelsenMIKE BERTHELSEN
EXECUTIVE DIRECTOR (TERM. 05/2023)
- Total calculated
- $58,908
- From this org
- $58,908
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Brad LarmieBRAD LARMIE
EXECUTIVE DIRECTOR
- Total calculated
- $8,977
- From this org
- $8,977
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Andy LafrenceANDY LAFRENCE
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Barbara NelsonBARBARA NELSON
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Jessica MoglikaJESSICA MOGLIKA
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Michael GietlMICHAEL GIETL
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Denise HollomanDENISE HOLLOMAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Steve MertensSTEVE MERTENS
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kristin GuildKRISTIN GUILD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert EldeROBERT ELDE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve KelleySTEVE KELLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Herron-OlsonLISA HERRON-OLSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frank JaskulkeFRANK JASKULKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pat MasciaPAT MASCIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kathy TuneKATHY TUNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
UEL REAL ESTATE HOLDINGS LLC
LAB RENTAL TO EMERGING LIFE SCIENCE COMPANIES · MN · income $4,060,847 · assets $20,406,906
Directly controlled by UNIVERSITY ENTERPRISE LABORATORIES
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 9 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202432849349301873
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.